Macy's Inc

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Plans by US retail group Macy’s Inc to create a nationwide department store brand took a tumble last week when it unveiled measures to axe 2,300 jobs and restructure in an attempt to offset falling sales. After two years of pursuing a one-size-fits-all approach, it seems the key to its new strategy is a focus on local markets.>

Department store operator Macy's Inc is to axe 2,300 management jobs as part of a restructuring that will see it consolidate into three divisions in an attempt to reduce costs and offset falling sales.>

Department store operator Macy's Inc is to axe 2,300 management jobs as part of a restructuring that will see it consolidate into three divisions in an attempt to reduce costs and offset falling sales.>

Apparel maker Kellwood Company is selling its Smart Shirts manufacturing operations and related real estate assets for $161m as it seeks to reduce its exposure to private labels and reposition the company to build on its higher-end lifestyle brands.>

Footwear retailer Payless ShoeSource has hired Scott Ramsland as senior vice president and international general merchandising manager, leading the team responsible for product direction and overall merchandising strategy in global markets.>

Apparel maker Kellwood Company late yesterday (6 September) said it swung to a second quarter loss blaming one-time charges and higher markdowns, lowered its full year guidance, and revealed plans to restructure its business.>

Men's apparel retailer The Men's Wearhouse has posted a 52% jump in second quarter profit, helped by stronger retail apparel sales at its Men's Wearhouse stores and higher tuxedo rentals from its newly acquired After Hours chain.>

Department store operator Macy's has reported a second quarter that was "below expectations" after being hit by May merger integration costs of $97m, but says sales trends are improving at former May Company stores.>

Putting what chief executive Terry Lundgren termed a “superb finish” on a challenging year, Federated Department Stores reported Tuesday (27 February) that it had exceeded fourth-quarter earnings estimates and put in motion a plan to change its name to Macy’s Group.>

Federated Department Stores said Friday that it had reached two separate agreements to sell one of the few remnants of its acquisition of May Department Stores, its Bridal Group, albeit for less than the department store chain was believed to be seeking.>